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USD/INR bid, eyes 62.50 next

  • USD/INR risks continues to spike towards 62.50, expected to open  around 62.35

  • Stops hit on break above 62 yesterday - RBI said excessive INR gains undesirable

  • Good buying in NDFs overnight by leveraged, profit-taking by hedge funds cap

  • 1month traded 62.57-62.76 range, ended 62.68-62.71 in NY 

 

  • Market Data
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